The EUR/USD pair has managed to stabilize after the sharp sell-off suffered on Tuesday on the back of hawkish words from Federal Reserve Chairman before the U.S. Congress. After hitting a two-month low of 1.0524, the EUR/USD pair found support at the 100-day Simple Moving Average (SMA) and recovered a few pips. At the time of writing, the pair is trading at the...
Gold prices came under pressure on Tuesday as the U.S. dollar strengthened across the board following the Federal Reserve Chair's semi-annual testimony before the Senate. At the time of writing, the spot price XAU/USD is trading at $1,818 an ounce, 1.55% lower on the day, having hit a one-week low of $1,815. The U.S. dollar rallied on the back of hawkish remarks...
The EUR/USD pair advanced at the begging of the week extending Friday's gains as the U.S. dollar weakened across the board as investors await the Federal Reserve Chair's testimony before Congress and the nonfarm payrolls report. At the time of writing, the EUR/USD pair is trading at the 1.0685 area, 0.5% above its opening price, having posted a two-week high of...
The EUR/USD advanced slightly on Friday and closed the week higher as the U.S. dollar weakened across the board amid a better market mood, which saw Treasury yields receding from recent highs. At the time of writing, the EUR/USD pair is trading at the 1.0630 area, up 0.3% on the day and posting a modest 0.8% weekly gain. Data from S&P Global showed that the U.S....
The EUR/USD pair came under pressure on Thursday, reversing most of the previous day’s gains, despite stronger-than-expected inflation data from the Eurozone. At the same time, the dollar benefited from rising U.S. bond yields amid mounting concerns about global inflationary pressures. At the time of writing, the EUR/USD pair is trading at 1.0603, 0.59% below its...
The EUR/USD pair was boosted on Wednesday and advanced to fresh weekly highs following the release of higher-than-expected German inflation data. The pair's advance has also been underpinned by the rise in the German 10-year Bund yield, which reached the highest level in 12 years at 2.724%. At the time of writing, the EUR/USD pair is trading at the 1.0670 zone,...
Gold prices increased on Tuesday, with the spot price XAU/USD gaining for a second consecutive day after the greenback weakened across the board following a series of economic releases in Europe and the United States. At the time of writing, the XAU/USD pair is trading at $1,829, 0.7% above its opening price, after hitting a two-month low of $1,805 earlier in the...
The EUR/USD pair trades higher on Monday after five consecutive days of losses on the back of durable goods data coming in on the weak side in January. As recession fears increase, U.S. bond yields took a U-turn, weighing on the dollar. At the time of writing, the EUR/USD pair is trading at 1.0580, 0.34% above its opening price, after hitting a fresh multi-week...
The EUR/USD pair came under renewed pressure on Friday and fell to its lowest level in seven weeks as the dollar jumped, in tandem with U.S. Treasury bond yields, following another round of inflation figures. At the time of writing, the EUR/USD is trading at the 1.0550 zone, down 0.4% on the day and on track to post a 1.4% weekly decline. The pair scored its...
Gold prices edged lower for the third day in a row on Thursday, with the spot XAU/USD touching its lowest year-to-date level below $1,830 despite the pullback seen in U.S. bond yields. At the time of writing, the XAU/USD pair is trading at $1,823 an ounce, 0.16% below its opening price, after hitting its weakest level since December 30 at $1,817.55 an ounce. A...
The EUR/USD pair edged lower and posted a fresh monthly low under 1.0600 on Wednesday amid a stronger U.S. dollar favored by the risk-off environment. However, the corrective decline in U.S. yields across the curve limited the greenback advance and kept the EUR/USD within a narrow range. At the time of writing, the EUR/USD pair is trading at the 1.0605 area, down...
The EUR/USD pair treads water on Thursday as the dollar shrugged off mild intraday weakness following the release of U.S. producer price index (PPI) data. At the time of writing, the EUR/USD pair is trading at the 1.0685-90 area, virtually unchanged on the day, after retreating from a daily high of 1.0723. U.S. producer price index inflation slowed slightly,...
Gold prices are up for a third day in a row on Wednesday, amid a weaker U.S. dollar following words from Federal Reserve Chairman Jerome Powell on Tuesday. The yellow metal is trimming post-nonfarm payrolls data losses. At the time of writing, spot gold price XAU/USD is trading at the $1,880 area, recording a 0.46% gain on the day. In an interview, Powell said...
The U.S. dollar bounced sharply on Friday, reversing weekly losses against the euro as a stunning nonfarm payrolls report boosted expectations the Fed would stick to its hawkish stance. U.S. yields, and the greenback, jumped after the Bureau of Labor Statistics reported the U.S. economy added 517,000 jobs in January, beating by far the market consensus of...
The EUR/USD pair erased a significant part of Wednesday’s Fed-induced rally as European Central Bank’s (ECB) President Christine Lagarde delivered a cautious press conference, which weighed on the euro. At the time of writing, the EUR/USD trades at the 1.0915 area, posting a 0.65% daily loss, after printing its highest level in nine months at 1.1085. At the same...
The EUR/USD pair jumped to a fresh 10-month high at 1.1000 after the Federal Reserve decided to raise the target range for the federal funds rate by 25 basis points to 4.5%-4.75% as expected. At a press conference, Fed’s Chair Jerome Powell stated that for the first time, the Fed can say that the disinflationary process has begun, but that “is not grounds for...
The EUR/USD pair trades slightly lower for a fourth consecutive day on Tuesday despite growth data from the Eurozone coming better than expected as market sentiment remains cautious ahead of the central banks' meetings this week. At the time of writing, the EUR/USD pair is trading at the 1.0835 level, 0.12% below its opening price, having bounced from a two-week...
The EUR/USD pair ended Monday slightly lower after opening the week on a solid note and briefly rising above the 1.0900 level. Most crosses in the FX market remain trading within narrow ranges as investors take the sidelines ahead of top-tier events this week, including Federal Reserve and European Central Bank (ECB) meetings and the U.S. nonfarm payrolls...